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|Title: ||A framework for improving the strategic management of construction contractors|
|Authors: ||Edum-Fotwe, Francis Tekyi|
|Issue Date: ||1995|
|Publisher: ||© Francis Tekyi Edum-Fotwe|
|Abstract: ||Strategic management, also described as policy or simply strategy, deals with the long-term direction and success of organisations, and covers issues that are usually of primary concern to senior and top management.
Construction organisations have started to embrace a strategic approach
as a way of managing their long-term success, in an increasingly turbulent
business environment. This shift in managerial approach was necessitated
by a need to adopt a total quality philosophy in managing the business
enterprise. There is, however, a dearth of information on what construction
companies do when planning their long-term future survival. Where such
planning is evident, there appears to be no systematic approach for doing
it, and the factors involved vary considerably.
This research set out to establish the focus and activities undertaken by
construction contractors to determine their strategies; with the view to
recommending the best practices for the industry, especially to companies
where strategic planning does not form a coherent part of their long-term
survival considerations. The research therefore centred on the internal
activities that contractors undertake to establish their corporate strategies.
The research established the framework and focus of the strategy making
process in construction companies.
The research also assessed the methods of financial evaluation techniques
employed by contracting companies as part of their strategic planning. This
led to the identification of the need for an effective financial evaluation
criteria to be employed for the corporate assessments. An improved
approach that links up generic strategy options with classification of
evaluation was proposed. This took the form of a sequential financial
model. Such a model was developed and tested, and linked up with the
generic strategic options available to construction contractors, to be
employed for their strategic management.|
|Description: ||A Doctoral Thesis. Submitted in partial fulfillment of the requirements for the award of Doctor of Philosophy of Loughborough University.|
|Appears in Collections:||PhD Theses (Civil and Building Engineering)|
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